How Globalization Has Consequences For Intergovernmental Relations

Globalization is the process by which regional economies, societies, and cultures have become integrated through a global network by transportation, communication, and trade. Through a global lens the process of globalization seems to be vital to the development of the modern world. As a result of globalization there has been a dramatic transition in every aspect of life around the world, more specifically in areas such as trade, immigration, and human development. International trade bolsters sales, lowers the cost of production and consumption, and extends the market reach of any corporation. This is beneficial to America in that consumers are able to buy more goods and services at lower costs and therefore the gross domestic product

In order to discuss the effects of globalization, it is important to assess what economic globalization is defined as. Economic globalization is the

Globalization in this context will largely rely upon economic globalization. Bhagwati’s definition is especially useful in determining the premise of economic globalization that he defines as an “integration of national economies into the international economy through trade, direct foreign investment (by corporations and multinationals), short-term capital flows, international flows of workers and humanity generally, and flows of technology” (3). Given the wide dimensions under economic globalization, quantifying the success or failure may be a challenging feat but econometric such as GDP growth rate will be a good indicator for the scope of this paper. Nevertheless, globalization needs not be confined in economic realm but also extends to the spread of ideas.

Although there is still not agreement on a common definition of this phenomenon, in this paper I will accept the one developed by R.M. Joshi (2009). He identifies, indeed, Economic Globalization as “the increasing economic integration and interdependence of national, regional and local economies across the world through an intensification of cross-border movement of goods, services, technologies and capital”

Globalization is difficult to simply define due to the variety of changing definitions that have been established over previous decades. Hamilton and Webster (2012) suggest that globalization is the connection between nations, defining globalization as a process in which barriers are reduced in order to encourage exchanges between countries. This view proposes that globalization refers very much so to the trade barriers and the improved communications between countries in order to ensure the world is unified. Globalization increases economic activity across the world and opens up markets for foreign investment.

During the last decade of the twentieth century, the word ‘globalization’ has become an increasingly prominent feature of political, social, and economic discussion in academic and policymaking circles, as well as in the media. The processes and outcomes of globalization drew attention and debates that had one thing in common. The research shows that nearly everyone agrees that globalization is a trend that is changing the face of the world, and as a result the world society lives in a more ‘globalized’ world. Nearly two and a half decades passed since 1990s, and studies have been conducted to examine the causes and consequences of globalization. Moreover, nearly every person experiences some type of globalization and can testify firsthand the effects it has on their life, society, and the state. The analysis of the effects that globalization dynamics have on the world society indicates that globalization has a significant positive impact via spreading opportunities and wealth across nations, stimulating innovation and productivity, enhancing the economic development of poorer countries, and helping to improve living standards.

Globalization: Globalization can be defined as the incorporation of national markets through trade, asset, capital flow, labor influx, and expertise. It emanates from the eradication of barricades among national markets to spur the flow of capital, labor, services, and goods. Whereas the removal or eradication of quotas and tariffs like the GATT that limits free and open trade between countries.

If we want to fully understand the importance of globalization and its effects on the world’s economy and society now and its potential for the future, it is vital that we study its past and how it has originated. The history of Globalization is broad and diverse therefore it is only possible to outline some of the main areas. Globalization isn’t just a modern day phenomenon. Trading activities date from the very earliest of civilizations, but it was the Middle Ages in Europe that initiated systematic cross-border trading operations carried out by institutions of a private corporate nature. By the end of the 14th century it is estimated that there were as many as 150 Italian banking companies already operating multinationally. (Dunning, 1993) This is not exactly globalization, it is however international trade. International trade is one of the main concepts behind globalization.

This report basically discuss about the influence on Globalisation towards government, business and civil society. Findings and discussion will focus on China and Vietnam. Hence, to further look into the transformation of both countries and how reformation and globalisation has contributed to the current environment of these countries, as well as the advantages, opportunities and threats for them. Finally the report will talk about how neoliberalism has caused imbalance between countries and has formed inequality and unhealthy competitions. “Beijing Consensus” model is used as recommendations.

The concept of globalization is a complex and peculiar one, failing to be definable by a single, precise definition. Centrally, globalization involves information and goods being exchanged amongst different countries. These interactions and interchanges among countries globally over time is due to an increase in communication and transport networks. Globalization is often divided into three main areas being economic globalization, cultural globalization and political globalization. All three are vital areas to one’s life and globalization is said to have a large impact on each. Although globalization is controversial in the aspect that it cannot be declared just how much of an influence the notion has in the world. Political scientists such as Muhammad Ijaz Latif, Anton Pelinka and Martin Wolf all discuss this issue in their respective pieces as well as differing aspects of globalization such as the role the European Union plays in relation to globalization, the different perspectives of globalization and the challenges of the nation-state in regards to globalization.

Kegley and Raymond stated: “The shape of the world’s future will be determined not only by changes in the objective conditions of world politics, but also by the meanings people ascribe to these conditions.” Terrorism is presently a major factor in international relations and has impacted the world to change in many significant ways. Terrorism is a political ideology that has been problematic in defining definitely because of its various interpretations around the world, as well as the fact that it is constantly evolving. Since the terrorist events of 9/11, the lives of many have been changed forever. A small group of individuals, which are a mere fraction of the population of the world, have managed to impact and shape the way international and domestic relations are looked at and handled. People question how secure and safe they feel due to uncertainty of public safety because of events such as 9/11. The war on terrorism in the 21st century has certainly and inevitably changed the landscape for global politics. However, the relationship between terrorism and global politics is troublesome and in ways problematic to describe accurately. Both terrorism and global politics individually are complicated phenomenon. It is erroneous to propose that one is responsible for the other or vice versa, but they are inextricably and inevitably linked. In the study of international relations, there are multiple theories and theoretical perspectives. In this essay, realism and liberalism

In the wake of globalization, governments around the globe are faced with the challenges of not only being at par with the global competitors but also facilitating the trickle-down of the benefits of such to its citizenry. In developing countries particularly, the catch up with global-ization has been further cajoled by a much failed progress in achieving nationally set out goals mainly through centralized processes, forcing policy makers to critically evaluate the tradi-tional top-down approach as panacea for development and thus an overpass to globalization (Smoke, 2000).

Economic globalization is the growing integration of world markets and the intensifying interdependence of global economies. The process has social and economic costs as well as benefits. The process is both critiqued and lauded by scholars. On one hand it provides opportunities and growth while on the other hand it creates an unequal distribution of wealth also while hurting workers rights.

The term "globalization" has a strong emotional charge. Some see globalization as a beneficial process - which will contribute decisively to global economic development - inevitable and irreversible. Others are hostile to this process, if not fear, believing that it increases inequality within and between nations, threatens employment and living standards and thwarts social progress. The objective of this study, which is an overview of certain aspects of globalization, is to indicate how a country can take advantage of this process, while realistically assessing the potential and risks.

Economic globalization has become the most important feature and a general trend of present world economic development. Globalization is a phenomenon and also a process of development of mankind and human society (Hamilton, 2008). It is the essential feature of the modern age. Globalization is the cross-border flows of capital and goods, including capital, labour, technology and natural resources (Bożyk, Misala & Puławski, 2002). Economic globalization is a historical process, and the germination of it could date back to the 16th century. After the industrial revolution, capitalist commodity economy, modern industry and transportation have been developing rapidly. The world market was fast expanded and the foreign trade was